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Stars among exodus in Invesco&#39s Henley move

Twenty-six investment professionals, including star fund managers Claire Griffiths and David McGillveray, are leaving Invesco UK as part of the group&#39s move to combine its investment operations in Henley-on-Thames.

Following its decision last week to realign the business into the core functions of investments, distribution and operations, Invesco is relocating its investment management team to Oxfordshire, with the loss of 11 fund managers and 15 other investment specialists. Its remaining 14 London-based managers will move to Henley-on-Thames, where the Perpetual team is based.

The outgoing managers include European smaller companies fund manager Griffiths, who will be replaced by assistant manager Tasmin Friers, and key trends and UK equity fund manager McGillveray, who will hand over to Graham Kitchen. Kitchen, manager of the £580m income & growth fund, will remain in his role as co-head of investment with income star Neil Woodford in Henley.

They will report to chief investment officer Bob Yerbury, who will continue to head the investment team.

Invesco&#39s London office will remain open, housing its global fixed income and Atlantic wealth management teams as well as its sales and marketing department. Invesco hopes the move will be completed within two months.

Yerbury says: “The move creates a team of top quality managers who will work and interact together in an environment which will maximise our investment strength and enhance communication.”

Chelsea Financial Services managing director Darius McDermott says: “Logistically, it is better that the team be based in closer proximity and hopefully this will be better for the performance of the funds as a whole. I do expect this to be good news for clients in the long run.”

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